July 25, 2011 (Jeff Alan)
The Department of Housing and Urban Development (HUD) has announced that it is extending the deadline for accepting pre-applications for the Emergency Homeowners Loan Program (EHLP) to Wednesday July 27, 2011, to give at-risk homeowners more time to apply for the program.
The program was designed to assist homeowners who have experienced a reduction in income and are at risk of foreclosure due to involuntary unemployment or underemployment caused by economic conditions or a medical condition.
Under EHLP guidelines, eligible homeowners can qualify for an interest free loan which pays a portion of their monthly mortgage for up to two years, or up to $50,000, whichever comes first.
The program was launched in June by the Department of Housing and Urban Development (HUD) in conjunction with NeighborWorks America and is expected to aid up to 30,000 distressed borrowers with an average loan of approximately $35,000.
Homeowners in the following states are eligible for EHLP if they meet certain requirements: Alaska, Arkansas, Colorado, Hawaii, Iowa, Kansas, Louisiana, Maine, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Mexico, New York, North Dakota, Oklahoma, South Dakota, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming and Puerto Rico.
Only participating agencies found on www.FindEHLP.org are approved to accept Pre-Applicant Screening Worksheets. There is no fee to submit a worksheet or to get assistance for filling out the worksheet. You can also call toll free at 855-346-3345 for assistance.
Tags: HUD, NeighborWorks America, EHLP, Pre-Applicant Screening Worksheets, homeowners, interest free loan, mortgage assistance, unemployment, economic conditions